Ultima Markets[Market Analysis] Position Extension Cooling Copper Prices, Short term or Facing...

todayUltimaMarkets Bringing you 2024year 5month 17Japanese copperIn depth analysis.

Fundamental points

• Reduced copper supply：影响铜市场动态的一个关键事件是巴拿马铜矿的关闭。该矿是全球重要的铜矿来源，此次关闭将市场对铜供应的预期从盈余转为赤字，推动了铜价的上涨。此外，3月份，中国冶炼厂因精矿短缺而决定减产，也进一步推高了价格。
• 铜价稍作休息：由于通过商品指数持有看涨头寸的投资者将在6月初开始对其铜头寸进行展期，这可能会进一步缓解铜价下跌，从而为持有空头头寸的交易商提供了延期交割的机会，进而缓解后市。
  

technical analysis

Daily chart analysis

Copper daily chart, sourceUltima Markets MT4）

• Random oscillation index：指标脱离超买区域后再度发出多头信号，配合铜价形成了顶背离的形态，暗示当前市价存在较大的下跌动力。
• 艾略特波浪：铜出现背离形态后疑似完成驱动浪浪5，今日若跌破昨日低点即可确认。届时铜价将迎来均值回归，下方看向红色33日均线和黑色65周期均线，同时也是上行通道线的下沿。
  

1Hour chart analysis

Copper1Hour chart, sourceUltima Markets MT4）

• Random oscillation index:指标昨日发出多头信号，铜价迎来短期反弹趋势。关注50中位线附近指标是否将再度发出空头信号，届时可以关注短期的做空机会。
• 支撑阻力价位：铜价跌破红色33Cycle and65周期均线组后昨日震荡调整，短期均线组将成为铜价的反弹阻力。下方则是另类趋势线支撑，汇价需要有效破位该支撑位才可继续关注空头机会。
  

Trading CentralHub Line Indicators

Copper30Minute chart, sourceUltima Markets APP）

• according toUltima Markets APPInTradingCentralHub line indicators, central price range for the day4.9150，
• 4.9150Upward bullish, first goal4.9500Second objective4.9705
• 4.9150Under bearish, first target4.8450Second objective4.8240
  

Disclaimers

The comments, news, research, analysis, pricing, and other information contained in this article can only be considered as general market information and are provided solely to assist readers in understanding the market situation and do not constitute investment advice.UltimaMarketsReasonable measures have been taken to ensure the accuracy of the data, but the accuracy of the data cannot be guaranteed and can be changed at any time without notice.UltimaMarketsWe will not be responsible for any losses or losses (including but not limited to any loss of profits) that may arise from the direct or indirect use or reliance on such information.